According to the Bloomberg Billionaires Index, the founder of e-commerce major Alibaba Group, Jack Ma gained the top position in Asia, replacing Reliance Industries Chairman Mukesh Ambani.

Mukesh Ambani gave up $5.8 billion from his net worth due to the recent freefall in oil prices. The severe impact of the COVID-19 epidemic and the recent crash in the oil markets made him follow the Chinese billionaire Jack Ma. Ambani’s current net worth amounts to $41.8 billion whereas that of Jack Ma amounts to $44.5 billion.